Upwork Inc. $UPWK Shares Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP increased its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 95.3% in the second quarter, HoldingsChannel.com reports. The firm owned 300,566 shares of the company’s stock after buying an additional 146,666 shares during the period. Engineers Gate Manager LP’s holdings in Upwork were worth $2,513,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in UPWK. Rice Hall James & Associates LLC purchased a new stake in Upwork in the second quarter valued at approximately $23,214,000. Summit Partners Public Asset Management LLC purchased a new position in shares of Upwork during the fourth quarter worth $40,136,000. California State Teachers Retirement System grew its stake in shares of Upwork by 715.0% in the second quarter. California State Teachers Retirement System now owns 1,273,186 shares of the company’s stock valued at $10,644,000 after buying an additional 1,116,973 shares in the last quarter. Capital International Investors grew its stake in shares of Upwork by 37.7% in the fourth quarter. Capital International Investors now owns 3,288,860 shares of the company’s stock valued at $65,185,000 after buying an additional 900,318 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Upwork by 26.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,715,616 shares of the company’s stock valued at $40,720,000 after buying an additional 779,506 shares during the period. Institutional investors and hedge funds own 77.71% of the company’s stock.

Upwork Trading Down 0.2%

Shares of NASDAQ UPWK opened at $8.70 on Tuesday. The stock has a market cap of $1.09 billion, a P/E ratio of 11.30 and a beta of 1.01. The business’s fifty day simple moving average is $8.95 and its 200-day simple moving average is $9.74. Upwork Inc. has a 12-month low of $7.44 and a 12-month high of $22.84.

Upwork (NASDAQ:UPWK) last released its earnings results on Monday, August 10th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. Upwork had a return on equity of 16.70% and a net margin of 12.94%.The firm had revenue of $191.66 million during the quarter. During the same period in the previous year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

Insider Activity

In related news, CEO Hayden Brown sold 73,241 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.43, for a total transaction of $617,421.63. Following the sale, the chief executive officer directly owned 771,076 shares in the company, valued at approximately $6,500,170.68. This represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Erica Gessert sold 22,844 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.43, for a total transaction of $192,574.92. Following the completion of the sale, the chief financial officer directly owned 364,789 shares in the company, valued at approximately $3,075,171.27. This trade represents a 5.89% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 132,520 shares of company stock valued at $1,108,000 in the last quarter. Company insiders own 4.90% of the company’s stock.

Analyst Upgrades and Downgrades

UPWK has been the topic of several research reports. UBS Group decreased their target price on Upwork from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Weiss Ratings downgraded Upwork from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, July 29th. Citigroup cut their price target on shares of Upwork from $17.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, May 21st. Scotiabank reduced their price target on shares of Upwork from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. Finally, The Goldman Sachs Group set a $11.50 price objective on shares of Upwork in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.05.

Upwork Profile

Upwork Inc operates a global online work marketplace that connects businesses with independent professionals and agencies. The platform supports a wide range of services, including software development, design and creative work, marketing, writing and translation, consulting, customer support, and administrative services.

Through its marketplace, Upwork enables businesses to find talent, post projects, manage engagements, collaborate remotely, and process payments. The company also offers solutions designed for larger organizations, including tools for sourcing, onboarding, managing, and paying independent professionals at scale.

Upwork was formed through the 2014 merger of Elance and oDesk and adopted the Upwork name in 2015.